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High-quality offices in D2’s Hanover Quay for €3.75m

Investment produces annual rental income of €171,666, well short of area rent levels

Tue, Oct 16, 2018, 18:00

Offices at Hanover Quay, Dublin 2, have a good mix of facilities

An extensive ground floor office rented by MCA Architects at Hanover Quay in Dublin 2 is expected to attract considerable interest from investors when it is offered for sale this weekend for about €3.75 million.

Agent CBRE is handling the sale of the high-quality office accommodation, which extends to 553sq m (5,955sq ft). The investment produces an annual rental income of €171,666, well short of rent levels in the area.

The Hanover Quay building has a good mixture of facilities, including a boardroom/video conferencing area, meeting rooms, a variety of open-plan and cellularised offices, and air-conditioning, as well as an outdoor terraced area and four car parking spaces. The offices are within a 10-minute walk of both the Luas and Dart services.

MCA Architects has been based in the building since 2015. The current rent, at less than €30 per sq ft, is likely to increase significantly in 2020.

Stephen Ahern of CBRE said the strength of the location and the tenant would appeal to domestic and international investors. “The guide price breaks back to a very modest €630 per sq ft.”

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